Management

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In the _____ stage of organizational decline, cutbacks and layoffs will have reduced the level of talent among employees.

Crisis

The manager of a car manufacturing company in the U.S wants to set up factories in three other countries by the end of the year. After he has set this goal, which of the following is then next step he should take in order to achieve this goal?

Develop commitment toward the goal

______ is a strategy for reducing risk by buying a variety of items so that the failure of one stock or one business does not doom the entire portfolio.

Diversification

______ are companies that have a small share of a slow-growing market.

Dogs

There are eight general steps for organizational development intervention. The first step is ________.

Entry

Developing a purpose statement is the sole responsibility of middle management

False

Milestones are formal review points that tend to lengthen the innovation process.

False

Prkline is a popular brand of formal wear. The company decided on a new marketing strategy that actually involved its target audience participating in the campaign. This included an online virtual reality game that was highly popular among the audience, bringing the brand mass attention. Following this, their sales skyrocketed. This is an example of ______.

Organizational innovation

______ are companies that have a small share of a fast-growing market

Question marks

_________ are the assets, capabilities, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, to create and sustain competitive advantage, and to fulfill a need or solve a problem

Resources

Both proximal and distal goals are used to provide additional motivation and rewards for employees

True

Corporate-level strategy is the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?"

True

Declaring victory too soon is one of the mistakes managers often make in the refreezing stage of change

True

Even though education and communication, participation, negotiation, top management support, and coercion can all be used to manage resistance to change, coercion should be used only in a crisis or as a last resort.

True

Groupthink is more likely to occur in a highly cohesive group that is insulated from others and has no established procedure for systematically defining problems and exploring alternatives

True

Strategic dissonance is a discrepancy between management's intended strategy and the strategy actually implemented by the managers.

True

There are four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage. The resources must be valuable, rare, imperfectly imitable, and nonsubsitutable

True

Groupthink

a barrier to good decision making caused by pressure within the group for members to agree with each other

Grand strategy

a broad corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use

Shadow-strategy task force

a committee within a company that analyzes the company's own weaknesses to determine how competitors could exploit them for competitive advantage

Star

a company with a large share of a fast-growing market

Cash cow

a company with a large share of a slow-growing market

Question mark

a company with a small share of a fast-growing market

Dog

a company with a small share of a slow-growing market

Sustainable competitive advantage

a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate

Portfolio strategy

a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines

Slack resources

a cushion of extra resources that can be used with options-based planning to adapt to unanticipated changes, problems, or opportunities

Design iteration

a cycle of repetition in which a company tests a prototype of a new product of service, improves on that design, and then builds and tests the improved prototype

Technology cycle

a cycle that begins with the birth of a new technology and ends when that technology reaches its limits and is replaced by a newer, substantially better technology

Devil's advocacy

a decision-making method in which an individual or a subgroup is assigned the role of critic

Dialectical inquiry

a decision-making method in which decision makers state the assumptions of a proposed solution (a thesis) and generate a solution that is the opposite (antithesis) of that solution

Brainstorming

a decision-making method in which group members build on each others ideas to generate as many alternative solutions as possible

Electronic brainstorming

a decision-making method in which group members use computers to build on each others' ideas and generate as many alternative solutions as possible

Delphi technique

a decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on issue

Nominal group technique

a decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group

Production blocking

a disadvantage of face-to-face brainstorming in which a group member must wait to share an idea because another member is presenting an idea

Strategic dissonance

a discrepancy between a company's intended strategy and the strategic actions managers take when implementing that strategy

Management by objectives

a four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regularly to review progress toward goal accomplishment

Product prototype

a full-scale, working model that is being tested for design, function, and reliability

Problem

a gap between a desired state and an existing state

Strategic group

a group of companies within an industry against which top managers compare, evaluate, and benchmark strategic threats and opportunities

Organizational decline

a large decrease in organizational performance that occurs when companies don't anticipate, recognize, neutralize, or adapt to the internal or external pressures that threaten their survival

Strategic objective

a more specific goal that unifies company-wide efforts, stretches and challenges the organization, and possesses a finish line and a time frame

Dominant design

a new technological design or process that becomes the accepted market standard

S-curve pattern of innovation

a pattern of technological innovation characterized by slow initial progress then rapid progress, and then slow progress again as a technology matures and reaches its limits

Organizational development

a philosophy and collection of planned change interventions designed to improve an organization's long-term health and performance

Action plan

a plan that lists the specific steps, people, resources, and time period needed to attain a goal

BCG matrix

a portfolio strategy developed by the Boston Consulting Group that categorizes a corporation's businesses by growth rate and relative market share and helps managers decide how to invest corporate funds

Relative comparisons

a process in which each decision criterion is compared directly with every other criterion

Absolute comparisons

a process in which each decision criterion is compared to a standard or ranked on its own merits

Flow

a psychological state of effortlessness, in which you become completely absorbed in what you're doing, and time seems to pass quickly

Competitive inertia

a reluctance to change strategies or competitive practices that have been successful in the past

Valuable resource

a resource that allows companies to improve efficiency and effectiveness

Imperfectly imitable resource

a resource that is impossible or extremely costly or difficult for other firms to duplicate

Rare resource

a resource that is not controlled or possessed by many competing firms

Non-substitutable resource

a resource that produces value or competitive advantage and has no equivalent substitutes or replacements

Purpose statement

a statement of a company's purpose or reason for existing

Diversification

a strategy for reducing risk by buying a variety of items (stocks or, in the case of a corporation, types of businesses) so that the failure of one stock or one business does not doom the entire portfolio

Stability strategy

a strategy that focuses on improving the way in which the company sells the same products or services to the same customers

Growth strategy

a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business

Retrenchment strategy

a strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business

Rational decision making

a systematic process of defining problems, evaluating alternatives, and choosing optimal solutions

General Electric workout

a three-day meeting in which managers and employees from different levels and parts of an organization quickly generate and act on solutions to specific business problems

Which of the following is NOT one of the characteristics of S.M.A.R.T goals. a) Synergistic b) Measurable c) Timely d) Attainable e) Realistic

a) Synergistic

Which of the following is one of the sources of resistance to change? a) self-interest b) multifunctional teams c) a dynamic organizational culture d) discontinuous innovation e) change forces

a) self-interest

Experiential approach to innovation

an approach to innovation that assumes a highly uncertain environment and uses intuition, flexible options, and hands-on experience to reduce uncertainty and accelerate learning and understanding

Compression approach to innovation

an approach to innovation that assumes that incremental innovation can be planned using a series of steps and that compressing those steps can speed innovation

Situational (SWOT) analysis

an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment

The use of ________ in planning produces a false sense of certainty and is often cited as one of the major pitfalls of planning.

assumptions

Which of the following is a characteristic of discontinuous change? a) synergy b) design competition c) incremental change d) entropy e) innovative reciprocity

b) design competition

Which of the following is a component of a creative work environment? a) homogeneity b) job specialization c) centralization d) freedom e) micromanagement

b) design competition

Which of the following is true about planning? a) it reduces effort from employees and managers b) It helps managers create task strategies c) it decreases persistence toward goals d) it quickens needed adaptation

b) it helps managers create task strategies

Which of the following is NOT one of the components of creative work environments? a) challenging work b) organizational impediments c) freedom d) supervisory encouragement e) organizational encouragement

b) organizational impediments

Generational change

change based on incremental improvements to a dominant technological design such that the improved technology is fully backward compatible with the older technology

Results-driven change

change created quickly by focusing on the measurement and improvement of results

Satisficing

choosing a "good-enough" alternative

Planning

choosing a goal and developing a strategy to achieve that goal

Maximize

choosing the best alternative

Design competition

competition between old and new technologies to establish a new technological standard or dominant design

Unrelated diversification

creating or acquiring companies in completely unrelated businesses

Related diversification

creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures

Operational plans

day-to-day plans, developed and implemented by lower-level managers, for producing or delivering the organization's products and services over a thirty-day to six-month period

A-type conflict (affective conflict)

disagreement that focuses on individuals or personal issues

C-type conflict (cognitive conflict)

disagreement that focuses on problem- and issue- related differences of opinion

Evalutation apprehension

fear of what others will think of your ideas

Change forces

forces that produce differences in the form, quality, or condition of an organization over time

Resistance forces

forces that support the existing conditions in organizations

Milestones

formal project review points used to assess progress and performance

Unfreezing

getting the people affected by change to believe that change is needed

S.M.A.R.T goals

goals that are specific, measurable, attainable, realistic, and timely

Groupthink occurs in ______.

highly cohesive groups where there is a great deal of pressure to agree with each other

Distal goals

long-term or primary goals

Options-based planning

maintaining planning flexibility by making small, simultaneous investments in many alternative plans

Valuable, rare, imperfectly imitable resources can produce sustainable competitive advantage only if they are _______ resources.

nonsubstitutable

Resistance to change

opposition to change resulting from self-interest, misunderstanding and distrust, and a general intolerance for change

Strategic plans

overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years

Innovation streams

patterns of innovation over time that can create sustainable competitive advantage

Tactical plans

plans created and implemented by middle managers that direct behavior, efforts, and attention over the next six months to two years

Single-use plans

plans that cover unique, one-time-only events

Standing plans

plans used repeatedly to handle frequently recurring events

Competitive advantage

providing greater value for customers than competitors can

The manager of a packaging and shipping company has set a short-term goal of increasing the customer base by 5% in the next two months. In this context, the manager has set a _______.

proximal goal

Budgeting

quantitative planning through which managers decide how to allocate available money to best accomplish company goals

Proximal goals

short-term goals or subgoals

An earthquake, the servers of an online shopping company were affected and the internet was down. The managers of the company had to formulate and carry out a procedure so that businesses could run normally while the servers were being fixed. To overcome this unexpected problem, the managers devised a(n) _____.

single-use plan

A ______ is an assessment of the strengths and weaknesses in an organization's internal environment and the opprortunities and threats in its external environment.

situational analysis

Expatriate

someone who lives and works outside his or her native country

Rules and regulations

standing plans that describe how a particular action should be performed or what must happen or not happen in response to a particular event

Policies

standing plans that indicate the general course of action that should be taken in response to a particular event or situation

Procedures

standing plans that indicate the specific steps that should be taken in response to a particular event

Refreezing

supporting and reinforcing new changes so that they stick

Resources

the assets, capabilities, processes, employee time, information, and knowledge that an organization uses to improve its effectiveness and efficiency and create and sustain competitive advantage

Core firms

the central companies in a strategic group

Goal commitment

the determination to achieve a goal

Secondary firms

the firms in a strategic group that follow strategies related to but somewhat different from those of the core firms

Technological lockout

the inability of a company to competitively sell its products because it relies on old technology or a nondominant design

Core capabilities

the internal decision-making routines, problem-solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs

Corporate-level strategy

the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?"

Change agent

the person formally in charge of guiding a change effort

Discontinuous change

the phase of a technology cycle characterized by technological substitution and design competition

Incremental change

the phase of a technology cycle in which companies innovate by lowering costs and improving the functioning and performance of the dominant technological design

Technological discontinuity

the phase of an innovation stream in which a scientific advance or unique combination of existing technologies creates a significant breakthrough in performance or function

Decision making

the process of choosing a solution from available alternatives

Change intervention

the process used to get workers and managers to change their behaviors and work practices

Acquisition

the purchase of a company by another company

Technological substitution

the purchase of new technologies to replace older ones

National culture

the set of shared values and beliefs that affects the perceptions, decisions, and behavior of the people from a particular country

Decision criteria

the standards used to guide judgments and decisions

Recovery

the strategic actions taken after retrenchment to return to a growth strategy

Strategic reference points

the strategic targets managers use to measure whether a firm has developed the core competencies it needs to achieve a sustainable competitive advantage

Organization innovation

the successful implementation of creative ideas in organizations

Testing

the systematic comparison of different product designs or design iterations

Coercion

the use of formal power and authority to force others to change

When Klonorox Corporation, a manufacturer of bleach and bleach-based cleaning products, acquired Masterssauce brand steak sauce; it was an example of ______.

unrelated diversification

Distinctive competence

what a company can make, do, or perform better than its competitors

Multifunctional teams

work teams composed of people from different departments

Creative work environments

workplace cultures in which workers perceive that new ideas are welcomed, valued, and encouraged


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